Trump says China agreed to reduce tariffs on US car imports
December 3, 2018 4:34 pm
Beijing will “reduce and remove” the 40% tariffs it places on US cars imported into China, US President Donald Trump has said.
China has declined to confirm President Trump’s announcement, which he made on Twitter without providing details.
The move, if confirmed, would be welcomed by a car industry unsettled by the escalating US-China trade war.
President Trump and Xi Jinping have now agreed to a temporary truce in the bitter dispute.
Over dinner at the G20 summit, they agreed to not increase tariffs for 90 days to allow for talks.
Failure to strike a deal would have seen tariffs on $200bn worth of Chinese goods rise from 10% to 25% at the start of next year, and would have opened the way for tariffs on additional Chinese goods.
President Trump was in ebullient mood after the developments.